Creditors in former Delta Petroleum CEO Roger Parker’s bankruptcy case are putting the brakes on his sale of Recovery Energy stock until the real identity of its buyer — purportedly his girlfriend, the ex-wife of his partner at Delta — is revealed and, more important, where she’s getting the money to make the purchase.

In filings Monday, the creditors committee overseeing Parker’s Chapter 11 personal reorganization questioned whether his intended sale of Recovery Energy stock to a new company called Ruxece is an insider transaction.

Parker, 51, already stands accused by the U.S. Securities and Exchange Commission of being the inside source on billionaire Kirk Kerkorian’s investment in Delta in 2007. Two close Parker friends, insurance executive Michael Van Gilder and hedge-fund manager Scott Reiman, were toppled for allegedly profiting on the information before it became public.

That Parker appears to be working yet another insider deal, this one with Ruxece and designed to protect his personal assets, is at the crux of court filings by the creditors committee as well as two creditors in his bankruptcy: Kerkorian’s Tracinda Corp., to which Parker owes more than $7.6 million, and NBH Bank, which holds the mortgage on his historic mansion in Cherry Hills Village.

Ruxece not only was the entity to which Parker sold his nontransferable membership in the exclusive Whisper Rock Golf Club in Scottsdale, Ariz., but apparently bought more than $700,000 in other Parker assets not long before he filed bankruptcy in January, court records show.

State records show that Ruxece LLC was incorporated last Oct. 31 using a post office box in Englewood. Though no public paperwork shows who’s behind the company or what it does, Parker later identified its manager as Erin Wallace, whom he described in court papers only as a “close personal friend.”

Wallace, 49, is the ex-wife of John Wallace, Delta’s chief operating officer under Parker, and who, according to court records, lives with Parker at his mansion along exclusive Cherry Hills Park Drive.

“The committee … believes (Parker) and Ms. Wallace live together and have for some time,” the creditors committee said in a motion questioning their relationship and the proposed sale.

“Given the closeness of the relationship, the committee is concerned that all of the transactions with the buyer before and after the (bankruptcy) petition date are simply expedient sales that are not arm’s length and (Parker) will retain control of the assets for future disposition,” the committee wrote.

David is a member of the Investigations Team and has been at The Denver Post since 1999. He was a founding member of the team before moving on to cover banking, finance, human services, consumer affairs, and business investigations. He has also worked at newspapers in New York, St. Louis and Detroit over a 35-year career.

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